Produce And Execute A Top-notch Insurance Agency Referral Marketing Plan
In today's market there are only two ways 99% of Americans search for new insurance. The first way is researching online, the other option is asking their friends. You can find more information about online marketing in other articles of mine; for this article I am going to concentrate on the best ways of earning referrals from your current clients.
Create a Detailed Referral Plan
If you do not already have a program in your agency, you must produce one ASAP. This means a planned way of paying back customers who send new business to you. Different states have limits on the amount you may spend on each client for referring an insurance agency. Whether it is with gift cards, gas cards, or a check, my advice is to pay your clients as much as you can within the limits of the law. There is no more effective way to spend money for new business I say this because referrals are absolutely the best type of new shopper. They are easier to close because you often already have their confidence, and since the majority of people will not refer poor risks to your agency, they are regularly better for your profitability. don't be frugal when it comes to sending new clients; think you sell better when your commissions are higher?
Ensure every client knows about your rewards.
Unless each client within your clientele is aware that you reward referred customers and what you offer, you are not going to see the best results. Have a process to reference the reward program with every single helpful client interaction you have. In your agency, put together a very prominent display that shows the benefits for referred clients so no one could come into the office without noticing it. Write about your referral program in every piece of mail you send your clients. Update the signature in your email program to advertise your reward system in all the messages you send. Spend time during every client policy review and when you write new insurance policies to explain the referral program. The important thing to remember when you talk to clients about your program is to emphasize the benefits to them if they send referrals.
Train your clientele to refer.
It might sound weird, but you need to educate your clientele to send you business. I have continually alleged that an educated customer is the best client and this certainly rings true for referring new business. When you spend the time to explain coverages to your clients you are not only developing your connection with them, you are also giving them the ability to teach others about insurance and make clear the benefits of your company. Each time when you detect an insurance gap, request the client to think of people they know that might have the same liability. People are constantly animated to sound smart to their associates. Also, when clients appreciate about all the products and services you provide, not only do you initiate the opportunity for cross-selling but your clients are better able to identify needs in other folks they know and recommend your office. Provide your clients specific suggestions about referrals like, ìwho else in your knitting group would we be able to assist?î
Provide Customers the Tools to Refer Your Agency
Frequently the only thing stopping your existing customers from referring associates is not having your website information close at hand. Push every client to store your phone number into their mobile phone so they can speak to you in the event of an emergency. This works excellent because it creates the impression that your agency will be there for them if they need help, and it lets them to carry around your phone number everywhere. I also recommend creating little tags with the policy information, your phone number, and the local emergency phone numbers for them to put on their keys. You can do the same on a card that fits in a wallet. The trick is giving clients a way to carry along your contact information 24/7 without them knowing it.
Implement Your Insurance Agency Referral Reward Program
The largest error agents make about referrals is failing to execute. If you say you plan to remind every client about referrals ensure your staff and you do. If a client says who referred them, don't forget to mail a thank you card. If you put together the strategy beginning to end at the beginning, you will have an easier time doing what you said.
And do not overlook the most important rule for referrals - Ask!
Jay VanDamme is an insurance marketing expert who has overseen some of the largest national insurance marketing programs over the past 20 years. He is currently managing InsuranceSplash.com, an insurance agency online marketing service. You can learn more at: www.InsuranceSplash.comwww.JayVanDamme.com
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